• Investment World
• eWorld
• Brand Line
• Mentor
• Life
• Brand Quest
• The New Manager
• BL Club
• Smartbuy
• Books
• Gallery

Stocks

• Quotes
• SE Diary
• Scoreboard
• Open-End Mutual Fund

Cross Currency

• Rates
  
  

Shipping

• Ports
  
  

Archives

• Yesterday
• Datewise
• Resources
• In Focus
• In Depth
• Events 2007

Group Sites

• The Hindu
• The Hindu ePaper
• Business Line
• Business Line ePaper
• Sportstar
• Frontline
• The Hindu eBooks
• The Hindu Images

SBI too surged far above our conservative medium-term target of Rs 1,500 to record an intra-week peak at Rs 1,842.

If this is third leg of the up-move from the March trough, the targets can be Rs 1,686 and Rs 1,970.

Key intermediate term resistance for the stock is at Rs 1,827 that coincides with the May 2008 peak and January 2008 trough.

Fresh purchases are therefore advised only on a firm close above Rs 1,827.

Key medium term support is at Rs 1,480.

The stock can move sideways in the range between Rs 1,600 and Rs 1,900 over the short-term. Short-term traders can buy in declines as long the lower boundary holds. Target above Rs 1,900 is Rs 1,970.

More Stories on : Technical Analysis | Stocks

Article E-Mail :: Comment :: Syndication :: Printer Friendly Page

Copyright © 2009, The Hindu Business Line. Republication or redissemination of the contents of this screen are expressly prohibited without the written consent of The Hindu Business Line